BANKARSKA GARANCIJA U ISLAMSKOM PRAVU
BANK GUARANTEE IN ISLAMIC LAW

Summary/Abstract: A bank guarantee is an instrument of protection against the risk of non-performance or irregular performance of obligations arising from a specific contract. This paper defines the concept of bank guarantee, indicates its subjects and types, and then presents the legal nature of bank guarantee in Islamic law. Modern scholars have linked the bank guarantee with classical contracts, such as suretyship, agency and mortgage, and on this basis have taken a position on the legal status of the bank guarantee in Islamic law. The paper critically analyzes and compares their arguments and draws conclusions.

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